70A-3-105 - Issue of instrument. - Utah Statutes

70A-3-105. Issue of instrument.
(1) "Issue" means the first delivery of an instrument by the maker or drawer, whether to aholder or nonholder, for the purpose of giving rights on the instrument to any person.
(2) An unissued instrument, or an unissued incomplete instrument that is completed, isbinding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionallyissued or is issued for a special purpose is binding on the maker or drawer, but failure of thecondition or special purpose to be fulfilled is a defense.
(3) "Issuer" applies to issued and unissued instruments and means a maker or drawer ofan instrument.

Repealed and Re-enacted by Chapter 237, 1993 General Session